Commerce Bank Decreases Position in AtriCure, Inc. (NASDAQ:ATRC)

Commerce Bank decreased its position in shares of AtriCure, Inc. (NASDAQ:ATRCFree Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,066 shares of the medical device company’s stock after selling 703 shares during the period. Commerce Bank’s holdings in AtriCure were worth $359,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. RiverPark Advisors LLC bought a new stake in AtriCure in the third quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its stake in AtriCure by 31.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,074 shares of the medical device company’s stock valued at $91,000 after buying an additional 497 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of AtriCure during the 4th quarter valued at $103,000. Victory Capital Management Inc. boosted its holdings in shares of AtriCure by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 6,202 shares of the medical device company’s stock worth $221,000 after buying an additional 1,155 shares during the period. Finally, Aigen Investment Management LP lifted its stake in AtriCure by 24.0% in the 4th quarter. Aigen Investment Management LP now owns 7,136 shares of the medical device company’s stock worth $255,000 after acquiring an additional 1,383 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ATRC. Oppenheimer raised AtriCure from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Tuesday, April 23rd. Needham & Company LLC dropped their price target on shares of AtriCure from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Canaccord Genuity Group decreased their target price on AtriCure from $57.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. UBS Group lifted their target price on shares of AtriCure from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of AtriCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.78.

Read Our Latest Report on AtriCure

AtriCure Stock Performance

NASDAQ:ATRC opened at $22.54 on Friday. The company has a 50 day simple moving average of $24.11 and a two-hundred day simple moving average of $31.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.83 and a current ratio of 4.00. AtriCure, Inc. has a fifty-two week low of $20.19 and a fifty-two week high of $59.61. The company has a market capitalization of $1.07 billion, a PE ratio of -28.17 and a beta of 1.41.

AtriCure (NASDAQ:ATRCGet Free Report) last posted its earnings results on Wednesday, May 1st. The medical device company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $108.90 million during the quarter, compared to analyst estimates of $106.86 million. AtriCure had a negative return on equity of 7.85% and a negative net margin of 8.98%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. Research analysts anticipate that AtriCure, Inc. will post -0.75 earnings per share for the current year.

Insider Activity at AtriCure

In other AtriCure news, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $37.36, for a total value of $307,510.16. Following the sale, the insider now owns 52,839 shares of the company’s stock, valued at approximately $1,974,065.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Karl S. Dahlquist sold 1,885 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.16, for a total value of $60,621.60. Following the completion of the transaction, the insider now owns 50,954 shares in the company, valued at $1,638,680.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karl S. Dahlquist sold 8,231 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $37.36, for a total transaction of $307,510.16. Following the completion of the sale, the insider now owns 52,839 shares in the company, valued at approximately $1,974,065.04. The disclosure for this sale can be found here. Insiders have sold 14,616 shares of company stock valued at $504,932 over the last three months. 3.20% of the stock is owned by corporate insiders.

AtriCure Company Profile

(Free Report)

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.

See Also

Institutional Ownership by Quarter for AtriCure (NASDAQ:ATRC)

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